Offset Mortgages currently offered

CrazyKid_2

Hi

I'm currently think of re-morgaging my Discount Variable mortgage of £148,000 into an Offset Mortagage. I have £50,000 savings hence i looked into Offset and they offer the best value in terms of the most savings as i'll be paying interest on £98,000.

When i contacted a reputable broker, they found a two year tracker with scottish widows at a rate of current BOE rate (5.75%) + 0.34 which works out at 6.09%. However, the real beauty he explained of this product is there is no fees whatsoever and they give you £300 to cover solictors fees. They also carry out the valuation on your property. Also there are no tie-ins with this mortgage.

I wanted to gauge the views of people in the forum, as to their opinions on whether this is a good deal or am i missing something (ie is there any catches i havent thought about??)

Thanks

socrates

Clydesdale are doing some good deals at the moment - worth a look!